With Easter around the corner and Ramadan underway, there has been another hike in the factory price of spring lamb and hoggets. This comes as prices continue to rise from last week, with factories intensifying their efforts to secure supplies. The numbers of spring lambs coming on stream continue to remain small, but numbers are expected to start increasing shortly. The base prices for spring lambs have increased by as much as 20c/kg since the start of last week, in some instances.
This is leaving base prices ranging from €7.70/kg up to €7.90/kg and with quality assurance bonuses factored in, it is leaving prices for spring lambs coming in at €8.00/kg.
Those securing higher deals for spring lambs are reportedly getting up to as high as €8.50/kg, with €8.20-8.30/kg being generally secured at the higher end of the market.
Hogget prices have also increased to 10c/kg at the higher end of the market. Base quotes for hoggets are ranging from €7.05/kg up to €7.20/kg – which is a rise of 20c/kg in cases since the start of last week.
Those trading at the higher end of the market are securing deals of €7.40-7.50/kg with up to €7.60/kg also being reported for those with large numbers on hand. The only case of no increase in price from last week is that of cull ewes, with prices generally at €3.80-4.00/kg, similar to last week.
But the Irish Farmers’ Association‘s, Kevin Comiskey says although sheep prices are increasing, they are being eroded straight away.